Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Outturn Revenue Budget Monitoring report for
financial year 2023/24
Cabinet approved:
a) the transfer of £0.368m to a new earmarked reservefor Health & Safety requirements as detailed in the paragraph 53 and Appendix B;
b) the allocation of the £5.705m underspend to invest in highways improvements works;
c) a further allocation of £5m of Community Infrastructure Levy (CIL) to increase the investment in highways improvements to £10.705m;
d) that the balance of £0.281m from the Business Plan Priority reserve be allocated to fund additional highways litter picking activity in 2024/25 and Armed Forces Covenant in 2023/24 and 2024/25.
e) the transfer of £0.181m to a new earmarked reservefor Local Nature Recovery Strategy (LNRS)as detailed in the paragraph 87 and Appendix B;
Cabinet noted:
f) the general fund revenue budget outturn position for the financial year 2023/24;
g) the Dedicated Schools revenue budget outturn position for the financial year 2023/24;
h) the Housing Revenue Account outturn position for the financial year 2023/24;
i) the contributions to and from earmarked reserves as planned and detailed in Appendix B;
j) the final year end position of savings delivery.
Reason for Proposals
To inform effective decision making and ensure sound financial management as part of the Councils overall control environment.
To inform Cabinet on the financial year end revenue outturn position for the Council for the financial year 2023/24, including delivery of approved savings.
To improve the Councils financial resilience by increasing the balance on the General Fund reserve and setting aside funds in earmarked reserves to prudently assist in managing the Councils financial risks and future pressures.
Other reasons / organisations consulted
Internal
Consultees
Internal
Contact: Lizzie Watkin, Director of Finance and Procurement (s.151 Officer) Email: lizzie.watkin@wiltshire.gov.uk Tel: 01225 713056.
Report author: Lizzie Watkin
Publication date: 15/07/2024
Date of decision: 15/07/2024
Decided at meeting: 15/07/2024 - Cabinet
Effective from: 23/07/2024
Accompanying Documents: